Ensure online platforms adhere to norms: Retailers to Govt
Top retailers, including Future Group, Aditya Birla Retail and Shoppers’ Stop on Thursday urged the government to strictly implement norms with respect to online marketplaces and said they are prepared to take legal recourse if such platforms continue to flout rules. “We have sent a representation to the government asking for further clarifications so that there is no violation in implementation of the policy,” B S Nagesh, chairman of Retailers’ Association of India (RAI) told reporters here.
“We are prepared to approach the courts once again in the next few weeks if the norms are not strictly implemented,” he added. RAI is awaiting the reports of the Enforcement Directorate (ED) in the next four weeks on whether e-commerce companies have skirted the country’s foreign direct investment (FDI) rules by deploying overseas funds. “We are awaiting the reports of the Enforcement Directorate on whether e-commerce companies have flouted FDI rules by deploying overseas funds,” he said.
The Delhi High Court had ordered the ED last November to investigate the practices of e-commerce companies, when it was hearing a case by footwear owners that India bars overseas capital in the sector.